REG - SDIC Power Holdings - Third Quarter 2022 Operating Results

SDIC Power Holdings CoAnnouncement

17/10/2022 11:00

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RNS Number : 1069D  SDIC Power Holdings Co., LTD  17 October 2022

SDIC Power Holdings Co., Ltd.

(GDR under the symbol: "SDIC")

 Third Quarter 2022 Operating Results

 

 

This announcement contains the English translation of the Chinese version of
"SDIC Power Holdings Co., Ltd. Third Quarter 2022 Operating Results" as
published on the website of the Shanghai Stock Exchange, and is provided for
your reference only. In case of discrepancy between the Chinese version and
the English version, the Chinese version shall prevail.

 

According to the preliminary statistics of SDIC Power Holdings Co., Ltd. ("the
company"), the company's domestic holding enterprises have completed a total
of 50.199 TWh of gross electricity generated and 48.967 TWh of net electricity
generated in Q3 2022, representing an increase of 2.18% and 2.22% respectively
compared with the same period last year. From January to September 2022, the
company's domestic holding enterprises have completed a total of 118.365 TWh
of gross electricity generated and 115.374 TWh of net electricity generated,
representing an increase of 3.08% and 3.34% respectively compared with the
same period last year.

 

In Q3 2022, the average on-grid tariff of the company's domestic holding
enterprises is 0.337 RMB / kWh, representing an increase of 12.76% compared
with the same period last year. From January to September 2022, the average
on-grid tariff of the company's domestic holding enterprises is 0.350 RMB/kWh,
representing an increase of 10.10% compared with the same period last year.

 

The operating results of the company's domestic holding enterprises in 2022 Q3
is as followed:

 

 Items        Gross Electricity Generated                           Net Electricity Generated                             Average On-grid Tariff

              (TWh)                                                 (TWh)                                                 (RMB / kWh)

              Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)
 Hydropower   32.601          30.419                 7.17%          32.423          30.263                 7.14%          0.249           0.243                  2.46%
 Thermal      15.885          17.186                 -7.57%         14.867          16.150                 -7.94%         0.501           0.378                  32.42%

 Power
 Wind Power   1.217           1.081                  12.52%         1.188           1.053                  12.84%         0.486           0.457                  6.52%
 Solar Power  0.496           0.444                  11.67%         0.490           0.439                  11.50%         0.848           0.885                  -4.16%
 Total        50.199          49.130                 2.18%          48.967          47.904                 2.22%          0.337           0.299                  12.76%

 

The operating results of the company's domestic holding enterprises from
January to September 2022 is as followed:

 

 Items          Gross Electricity Generated                           Net Electricity Generated                             Average On-grid Tariff

                (TWh)                                                 (TWh)                                                  (RMB / kWh)

                Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)  Current period  Same period last year  Change (YOY%)
 Hydropower     75.539          64.621                 16.89%         75.106          64.262                 16.87%         0.270           0.260                  3.51%
 Thermal Power  37.686          45.249                 -16.71%        35.234          42.529                 -17.15%        0.484           0.374                  29.28%
 Wind Power     3.704           3.723                  -0.53%         3.616           3.633                  -0.47%         0.515           0.488                  5.51%
 Solar Power    1.437           1.236                  16.27%         1.419           1.222                  16.10%         0.869           0.920                  -5.49%
 Total          118.365         114.829                3.08%          115.374         111.645                3.34%          0.350           0.318                  10.10%

 

 

Explanation of year-on-year changes in gross electricity generated of domestic
power plants in 2022 Q3:

 

1.The main reasons for the overall year-on-year increase of hydropower
generation are as follows:

the year-on-year power generation of Yalong River increased firstly due to the
optimal operation of cascade hydropower stations in river basin, and secondly
due to the operation of Yangfanggou Hydropower Station and Lianghekou
Hydropower Station, and thirdly due to the rapid storage capacity decline of
Ertan Reservoir

 

2.The main reasons for the overall year-on-year decrease of thermal power
generation are firstly due to the abundant rainfall in partial areas which
causes the significant increase of hydropower generation, and secondly due to
the reduction of social electricity consumption in some of the thermal power
areas.

 

3. The main reasons for the overall year-on-year decrease of wind power
generation are firstly due to partial regional wind farms being affected by
wind resources, and secondly due to the limitation of local consumption and
export channels of some regional wind farms, causing the abandoned wind power
increased on year-on-year basis.

 

4. The main reasons for the overall year-on-year growth of solar power
generation include the successive merger and acquisition of solar power
projects as well as the commencement of operation of various projects.

 

Explanation of year-on-year changes in average on-grid tariff of domestic
power plants in 2022 Q3:

 

The cost of thermal price has risen being affected by the high coal price.
According to relevant national policies, the price of thermal power is all
formed by market, and thus the price has increased due to the continuous
tension between supply and demand. Meanwhile, the on-grid tariff of power
plants fluctuates with the affection of the settlement price and settlement
cycle

 

Among them, Yangfanggou has not yet defined the electricity price mechanism,
and Lianghekou is temporarily settled according to the transition period
electricity price.

 

Operating results of overseas power plants in Q3 2022:

 

The 50,000 kW onshore wind power project Afton Wind Farm Limited is in good
operation condition, with a total power generation of 101 million kWh
completed from January to September in 2022; The 9,800 kW waste-to-energy
power project in Bangkok is in good operation condition, with a total power
generation of 53 million kWh completed from January to September in 2022.

 

The Board of Directors of SDIC Power Holdings Co., Ltd.

 

October 17, 2022

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